The Canadian dollar received support. GDP and Employment in Canada
The Canadian dollar rose sharply against the US dollar, after the publication of the statistics on Canada.
- According to published data, the change in employment in Canada in November was 79.5K, significantly exceeding the forecast at 10.0K.
- GDP growth in September was 0.2%, against the decline in the previous period at the level of -0.1%.
Technical Analysis: Based on of the publication of positive statistics, the pair USD/CAD fell more than 100 points, updating the minimum of the day to around 1.2783. The price of the instrument returns to the previously broken down channel on H1, which indicates a possible resumption of the downtrend in the short term. In case the price of the instrument is fixed below the level of 1.2770, one should expect the USD/CAD pair to fall further to the area of 1.2715-1.2700.
Fig. USD/CAD. The current price is $ 1.2767.
Alexander Sivtsov